Kuwaiti authorities are cracking down on illegal crypto mining, and are currently under investigation as part of a drastic campaign to eradicate unlicensed operations, with more than 60 individuals investigating.
The state’s prosecutor confirmed that an investigation is ongoing and warned that more suspects could be identified in the coming weeks. The “security operations” that took place last Friday are suspected of hosting mining rigs targeting residential properties across the country, local media said.
The operation was coordinated by top officials, including Prime Minister Sheikh Fahad Al-Josef and Minister of Electricity Dr. Subai Al-Mukaisem. The government said it aims to curb unauthorized electricity usage that has been strained by the national grid and that has led to power outages in some areas.
The Ministry of Power has begun cutting off power from characteristics related to mining. Reconnection is only permitted on clearance from the Ministry of Home Affairs. Authorities are also conducting follow-up sweeps in various regions.
Kuwait has enforced “an absolute ban on all virtual assets/cryptocurrency mining activities” under the directive of the Money Laundering Committee, supported by regulatory authorities, including the Kuwait National Bank.